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Unity Bank Continues to Operating on Improved Key Performance Indicators
In its FYE 2020 audited results releases recently, Unity Bank posted reports that shows stronger and growing fundamentals across major indices and key performance indicators that alludes to healthy growth of its balance sheet on a consistent basis. The top-line performance was driven by improvement in net interest income margins which reported 16% growth. The Bank recorded Assets Growth of 67.90% to N492.02 Billion, and Gross Earnings of N42.71 Billion within the year under review. The Bank substantially grew its customers’ deposit portfolio to N356.62 billion, up from N257.69 billion in the corresponding period of 2019, representing a 38.4% growth. This affirms positive market uptake of the Bank’s product offerings, as well as the lender’s growing customer base to its recent aggressive push with agile customer-centric products, which has played a role in deepening financial services penetration especially to a wider world, underserved spectrum of the retail market.Other major highlights of the audited financial statement relate to growth in its net operating income which rose to N25.46 billion from N23.21 billion in the corresponding period of 2019, representing a 9.71% increase. This is even as the net interest income recorded a significant jump, as it rose by 7.60% to N17.75 billion from N16.49 billion in the corresponding period of 2019. Earnings per Share closed at 17.85 Kobo. Similarly, in the Bank’s unaudited Q1, 2021 results submitted to the Nigerian Stock Exchange on Friday, the retail lender’s Profit Before Tax grew by 43% to N784.3 million from N550.1 million recorded in the corresponding period of 2020.The Profit After Tax for the period which also grew by 43% stood at N721.5 million compared to the N506, 07 million recorded in Q1 2020.On the liquidity position, the Q1 2021 results recorded cash and balances with the Central Bank well above the threshold 27.5%, having posted a 326% increase to close at N111.2bn from 26.1bn in the corresponding period of 2020. This is even as the lender also grew customer deposits by 13% to N348.3 billion from N308.8 billion in the period under review, a strong indication of the growing popularity and acceptance of the Bank’s array of innovating products and services.As an outcome of increased focus on supporting local enterprises and industry, the asset column also showed a significant growth in loan portfolio of 76% as net loans and advances to customers increased to N223.2 billion from N126.6 billion in the corresponding period, with total assets for the period growing by 42% to close at N521. billion from N366.8 billion in the corresponding period of 2020.The Bank has been pushing transformation initiatives spearheaded by the new management. This is a strategic approach targeted at the youth market through several products such as the launch of omni-channel internet and life-style mobile application which is flagship UniFi, Multi-lingual USSD *777999# service which enables young people to bank, shop and interact. There is also the Corpreneurship Challenge, which is a pioneer initiative by the Bank targeted to drive entrepreneurship capacity of young graduates completing their national youth service.Unity Bank continues to build a valuable franchise in its agribusiness, the Bank has demonstrated an unwavering commitment to supporting agricultural businesses over the past five years. The Bank has broken new grounds by partnering with the Central Bank of Nigeria and the Rice Farmers Association of Nigeria to deliver the long-held objective of ensuring self-sustainability in rice production pushed by the Federal Government of Nigeria. This partnership has led to a reasonably high level of output in rice production, placing Nigeria on a path to self-sufficiency in rice production. The partnership with the rice farmers have so far generated no fewer than 300,000 direct and indirect jobs and led to the cultivation of over 1 million hectares of farmland, across 26 States, producing no fewer than 2 million metric tonnes of rice this wet season alone.The Bank is consolidating on the gains from its core business areas and niche in the agribusiness sector. The Bank has solidly financed over one million farmers over the past three years. These farmers cut across several primary crop production such as rice, maize, cotton, wheat, sorghum, etc coupled with their rich value chains, and it hopes to continue to expand on this as its play its role in driving the country’s quest for self-sufficiency in food production. The Bank is consolidating on the gains from its core business areas and niche in the agribusiness sector. The Bank has solidly financed over one million farmers over the past three years. These farmers cut across several primary crop production such as rice, maize, cotton, wheat, sorghum, etc coupled with their rich value chains, and it hopes to continue to expand on this as its play its role in driving the country’s quest for self-sufficiency in food production.The Executive Management with full cooperation of the Board sold its NPL, a move that reflect the bold initiative of the new team to settle the issue of legacy loans once and for all and refocus the bank to leverage resources that will bring about top line performance by optimizing our technology, digital platforms and focusing our people on targeted opportunities across regions to deliver operational efficiency and improved customer service. With the de-risking of the balance sheet, the Bank has turned the corner, currently posting near zero percent NPL ratio along with the enhanced credit management process. Market analysts believe that the thorough diagnostics of the Bank as well as the bold, firm and strategic action by the new Board & Management to eliminate the drag on the Bank in the form of huge legacy non-performing loans remain a feat that will set the Bank up on the path of strong and sustainable growth and profitability. The Bank has continued to hone initiatives aimed at getting rid of inefficient operating structure which manifested in excessive costs, poor branch spread and inadequate application of technology amongst others. Despite the capital base, the efforts put in to revamp the institution has resulted in a leaner, smarter and dynamic Bank with a healthy Balance Sheet. Furthermore, with the progress being made on the ongoing capital raising, the Bank is firmly on course to achieving sustainable growth and sound performance.On capital raising, although the global pandemic delayed the capital raising process, the exercise is well on course. There is a clear process around capital injection which would be made public in due course.
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Access Bank Appoints Mr. Innocent Ike As Substantive GMD/CEO, Recognises Contributions Of Ms Bolaji Agbede As Acting CEO
Access Holdings (‘Access Holdco’ or ‘the Company’) today announces the appointment of Mr. Innocent Ike as the substantive Group Managing Director/Chief Executive Officer of the Company, effective August 29, 2025, following the receipt of regulatory approval.
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ZENITH BANK MARKS 35 YEARS ANNIVERSARY IN GRAND STYLE, RECOGNISES PIONEER CUSTOMERS AND LONG-SERVING STAFF
L-R: Representative of the Nigerian First Lady and Secretary to the Lagos State Government, Barr. Bimbola Salu-Hundeyin; Chief of Staff to Ekiti State Governor, Mr. Adeniyi Adebayo; Group Managing Director/CEO, Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Wife of the Founder & Chairman of Zenith Bank Plc, Mrs. Kay Ovia; Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Founder & Chairman, Zenith Bank Plc, Jim Ovia, CFR; Governor of Borno State, Prof. Babagana Zulum; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Deputy Governor of Osun State, Prince Kola Adewusi; Chairman of Access Holding Plc, Mr. Aigboje Aig-Imoukhuede, CFR; Minister of Industry, Trade & Investment, Dr. Jumoke Oduwole; and the Publisher of Thisday Newspaper, Prince Nduka Obaigbena at the Zenith Bank 35th Anniversary and Chairman’s Dinner held at Eko Hotel & Suites, Victoria Island, Lagos, at the weekend.
Amidst pomp and pageantry layered with a mixture of glitz and glamour, Zenith Bank Plc marked its 35th year anniversary with a commemorative Chairman’s Dinner at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos on Friday, August 15, 2025. In recognition of their immense contributions to the success of the brand, the bank also presented commemorative awards and plaques to pioneer customers and long-serving staff, who have served meritoriously for 25 years and above. The ceremony brought together key stakeholders of the bank including customers, staff (past and present), regulators, partners, and friends, who all came together to celebrate 35 years of excellent and innovative banking services that has propelled the banking giant to the peak of Nigeria’s financial industry. Among the eminent personalities who graced the occasion were the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Governor of Taraba State, Dr. Agbu Kefas; Governor of Borno State, Prof. Babagana Zulum; Governor of Delta, Rt. Hon. Sheriff Oborevwori, who was ably represented by the Deputy Governor, Sir. Monday Onyeme; Alhaji Aliko Dangote, GCON; and former governors Peter Obi and Udom Emmanuel (also an alumnus of Zenith Bank).In her welcome address, the Group Managing Director/ Chief Executive of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON applauded the Founder and Chairman, Jim Ovia, CFR for his foundational role in building the structures for what has today become a shining example of excellence in the Nigerian banking industry and a globally recognised financial institution. She described him as “the Godfather of modern banking and the Nostradamus of our time, who through sheer tenacity, foresight, and uncompromising integrity transformed a modest vision into the financial powerhouse we celebrate today”.In his goodwill message, the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON, a proud alumnus of the bank, praised the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR for being at the heart of the very successful brand that today stands as Nigeria’s largest bank by Tier-One capital. According to him, “Long before technology became the bloodstream of global finance, Jim Ovia had already woven it into the DNA of Nigerian banking industry. He introduced innovation not as a fashion but as a philosophy, placing Zenith Bank on a path where excellence is not an ambition but a standard. Yet his true signature is not only on the balance sheet. For Jim Ovia, the people make an institution. His greatest investment has been in human capital – in transferring his experience and sense of adventure to generation after generation of bankers and investors forged at Zenith Bank”.
Also speaking at the event, the Founder and Chairman of Zenith Bank, Jim Ovia, CFR expressed its immense appreciation to all guests for joining the bank in celebrating this momentous occasion. He thanked the bank’s esteemed customers and shareholders for their trust, confidence and shared vision; the regulators, for their guidance over the years; his friends and partners, for being a constant source of strength; the Zenith Bank family led by the exceptional Group Managing Diector/CEO, Dame Dr. Adaora Umeoji, OON, for their loyalty and commitment; and his beloved wife and family for their love and support.Founded in May 1990, Zenith Bank has grown from humble beginnings into one of Africa’s leading financial institutions with branches across the 36 states of the federation and the FCT, Abuja as well as subsidiaries in the United Kingdom, Ghana, Sierra Leone, Gambia, France, UAE and a representative office in China.
FirstBank, the West African premier financial institution and financial inclusion services provider, has emerged as Nigeria’s Best Bank for Environmental, Social, and Governance (ESG) at the prestigious Euromoney Awards for Excellence 2025, held recently in London. This marks FirstBank’s second consecutive win in the ESG category, affirming its leadership in sustainable finance and responsible banking across Nigeria.
The Euromoney Awards for Excellence are regarded as one of the most coveted accolades in the global financial industry. The highly competitive selection process involves rigorous analysis and assessment, measuring performance against strategic and impact-oriented criteria.
The Bank earned the award through its deepened sustainability commitments embedded across its operations and community initiatives. In 2024, FirstBank screened 237 transactions worth over ₦3 trillion for sustainability risks, integrating ESG considerations into its credit framework.
Among its flagship sustainability initiatives, FirstBank commenced a tree planting campaign in partnership with Nigeria Conservation Foundation (NCF), planting over 30,000 trees in 16 locations across Nigeria. This was the first phase of its 50,000-tree initiative, projected to absorb approximately 720 tonnes of CO₂ by the end of 2025, contributing to climate resilience and supporting biodiversity preservation.
FirstBank has been proactive in gender inclusion through the Gender Market Strategy, disbursing over ₦43 billion FirstGem loans to women-led businesses in 2024. The Bank’s commitment to inclusive banking saw a significant increase in the worth of transactions facilitated by FirstMonie agents to over ₦9 trillion.
The Bank prioritises ESG/sustainability capacity building, evidenced by the training of over 9000 employees, and its webinars and workshops reaching over 2,000 SMEs and corporates. The bank’s investment in leadership for over 2,000 female employees through the FirstBank Women Network has demonstrated a dedicated structural commitment to cultivating a knowledgeable and diverse workforce catering to the dynamic ESG landscape.
Commenting on the award, the Chief Risk Officer of the Bank as well as the Chairman of the FirstBank Sustainability Committee, Patrick Akhidenor said, “We are honoured to receive this prestigious award for the second time in a row, which is a validation of our efforts to create a sustainable and inclusive future for all our stakeholders. Our approach to sustainability is hinged on three pillars: education, health and welfare; diversity and financial inclusion; responsible lending, procurement and climate initiatives”
He added: “We remain focused on driving impact through purposeful initiatives and inclusive growth, ensuring that our ESG efforts continue to create meaningful change in communities across Nigeria and beyond.”
The continued success in ESG and sustainability is driven by FirstBank’s vision to be Africa’s bank of first choice, leading with purpose, responsibility, and innovation.
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